Trichet Urges Tighter Fiscal Management

The euro zone needs tighter rules on fiscal policy to fortify the single currency and an effective mechanism for crisis management, Italian central-bank governor Mario Draghi says.

The euro zone needs tighter rules on fiscal policy to fortify the single currency and an effective mechanism for crisis management, Italian central-bank governor Mario Draghi says.

The hypocrisy of former ECB president Jean-Claude Trichet is in the spotlight today. Who put the spotlight on Trichet? Ironically, he did himself. Please consider Trichet warns of "behavioral contagion"

I can't help laughing at the Financial Times headline story Athens threat to bond holdouts. Greece has threatened to default on any of its bondholders who do not take part in this week’s €206bn debt restructuring, raising the pressure on potential holdouts.

European Central Bank President Jean-Claude Trichet warned that the euro-zone crisis has "reached a systemic dimension" and said governments must swiftly push through fiscal reforms and coordinate a recapitalization of banks.

Get ready for record low interest rates in Europe as ECB ready to push boundaries of crisis role A Reuters survey of 73 analysts showed a 60-percent chance the ECB will cut rates by 25 basis points to a record low of 1.0 percent -- a floor it previously reached during the financial crisis in 2009. It cut rates by a similar amount in November.